UG2 chrome ore index jumps up $20/t on lockdown extension, high portside prices

The chrome ore market appreciated on Tuesday April 14 due to bullish price sentiment after South Africa's lockdown was extended beyond the original 21 days.

The chrome ore UG2 index, cif China rose by 17.5% to $134 per tonne on Tuesday, after holding at $114 for the previous three weeks.
A small-volume deal was reported close to the new index level for material on a vessel that was on water at the time of trading.

A number of factors supported the rise in the index price, according to market participants, including fast-rising prices for portside cargo in China, the extended lockdown in South Africa and the lack of clarity over when South African ports and mining...

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